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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (120640)	5/5/2008 4:56:22 AM
From: 8bits	Read Replies (1) \| Respond to of 306849

you are now up to 10 months of inventory versus 4 months a year ago plus sales volume is down dramatically..give it time it will crash there too.. So far from what I have seen it goes zip code by zip code. East San Jose (which is in Santa Clara county..) has a large number of foreclosures, short sales, and banked owned homes possibly skewing the days of inventory figures. That said large scale layoffs in silicon valley or a rise in interest can skewer the area.

To: John Vosilla who wrote (120640)	5/5/2008 8:48:58 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

I know, and I am not trying to defend what is happening here as I am a buyer. My view is that RE as an inflation hedge is all that is keeping prices up but the facts are, they are remaining stubbornly high. This is not what we experienced in the last downturn in the early 90s... then, houses totally crashed out of the gate, I mean 100K-200K declines were what you had to do to sell a house. That is not happening now. The crashing dollar is keeping RE afloat here. Housing peaked in fall 2005. Here we are, 2.5 years later.... just WHEN EXACTLY are areas like mine going to crash. IF it doesn't happen this year then it isn't happening. BTW I was outbid on every house I tried to get. Now I am waiting for Sept.